An opposition coalition in Senegal, supported by renown rabble-rouser Ousmane Sonko, unveiled its presidential campaign platform this Saturday.

It seeks to institute a new national currency and renegotiate mining and energy agreements, bringing potential consequences for Woodside Energy (ASX:WDS).

Public opinion polls for the election are non-existent in Senegal, but the coalition’s candidate, Bassirou Diomaye Faye, is pointed out as a prime contender among the 19 presidential candidates.

The impending presidential election is scheduled for March 24.

Should Faye emerge victorious, the coalition’s proposed changes could considerably impact the West African Economic and Monetary Union’s eight nations and Senegal’s ambitions of becoming an oil producer this year.

Faye, in his preface to the consortium’s 84-page platform document, emphasized that complete independence cannot be attained without full control over the country’s economy, including livestock management, fisheries, and agriculture.

Therefore, the coalition is ardently devoted to obtaining food, digital, fiscal, energy, and scientific sovereignty.

After Sonko was barred from participating over a defamation conviction, Sonko’s dissolved Pastef party and other parties formed the coalition and selected Faye as a front-runner.

Sonko’s notable support base, primarily among youth frustrated with economic difficulty and a dearth of job opportunities, makes this formation a cause for concern for competitors.

The coalition’s platform maps out resolutions to combat inequality and enhance employment, but it also anticipates important governance restructuring, such as instituting a vice-president role and abolishing the prime minister position.

Plans that could potentially unsettle regional associates and investors include tax and customs reforms, the introduction of national currency, and the renegotiation of contracts pertaining to mining, hydrocarbons, public procurements, and infrastructure.

The coalition has not provided specifics on how it plans to restructure contracts but said it will ensure that ‘the mining industry becomes a significant lever of our socio-economic development’ and ‘to increase revenues from oil production’.

The Sangomar oil and gas project, run by Woodside Energy (ASX:WDS), is slated to commence production in mid-2024 and aims to yield approximately 100,000 barrels daily.

Woodside Energy is an Australian petroleum exploration and production company.